It is estimated that Australians spent over $32 billion on online retail in 2020. That’s a lot of money changing hands.
And with this spend comes the fees. Traditional payment gateways such as PayPal and Stripe are expensive; they charge you an interchange fee, merchant bank fees, and a dollar amount for every transaction you make. This all adds up, leaving both the customer and the vendor with much less than they expected once the transaction is finalised.
PayScript was built to offer a more efficient payment solution.
Vendors and customers lose out with high fees that only serve to line the pockets of the payment platforms they’re using.
There was no one trustworthy platform that enabled users to send and receive payments in their desired cryptocurrency.
At the time, cryptocurrency was still a niche field. PayScript wanted to create a platform that made it easy for all users to adopt and start transacting in cryptocurrencies.
We worked closely with PayScript to transform their ambitious vision into a fully-functional product.
We began by analysing the current payment gateway market, identifying the inefficiencies inherent in the field, and pinpointing exactly what was missing for users.
Following this in-depth research, we built a wireframe and a prototype, taking it through a series of thorough reviews and user tests.
PayScript wanted to deliver a cryptoprocessor that was able to overcome every common customer challenge.
PayScript leverages the low-cost, fast transactions that are possible using a decentralised system, reducing online payment times. Operating on blockchain-based technology, the payment gateway accepts cryptocurrency and can convert it into regular currency.
By trading in cryptocurrency instead of traditional currencies, it delivers a faster, more secure, and user-friendly way to buy and sell goods or services online—or in person.
The decentralised system records payment transactions under one network, cutting out the third parties with direct peer-to-peer payments.
Blockchain technology delivers a more secure, transparent system that vastly improves the security of user and payment data.
Users can accept cryptocurrency payments anywhere, whether it’s through their website or using a smartphone app, and auto-conversions eliminate any currency conversion fees.
Founder and CEO, Blockchain Australia ™
